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In our continued efforts to give our readers a broad number of views, opinions and information, we continue to provide PSG's daily market updates and add our own daily rant at the end.
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Short summary of PSG's market commentary for 27 November 2018
South Africa
It was a great start to the week for the local bourse as positive data released by banks, general retailers and industrials led to investor risk-on sentiment. The JSE All Share closed up 1.96% and the Top 40 2.27%.
United States
Retail and technology shares pulled up by Black Friday and Cyber Monday spending lifted US markets on Monday. At 21h40, the Dow was 1.40% up, the S&P 500 1.52% and the Nasdaq 1.86%.
Europe
Monday marked a good day for European markets due to reports that Italy might amend their budget in line with the EU’s requirements; moreover, on Sunday the EU and Britain came to an agreement around Brexit, lifting both currencies. The pan-European STOXX 600 benchmark closed 1.20% in the green.
Hong Kong
Despite losses suffered by Chinese markets, Hong Kong shares still rose on Monday as investors anticipated a more dovish approach to interest rates by the US Federal Reserve Bank (Fed). The Hang Seng closed 1.66% in the green.
Japan
Japanese shares started the week in the green due to Japan winning the bid to host the 2025 World Expo in Osaka. At their end of trade, the Nikkei was up 0.81%.
Rand
The local currency put up quite a fight on Monday thanks to positive market data being released. Although it lost some ground to major world currencies, it still kept its footing under R14 per dollar. At 21h05, the rand traded R13.89 against the dollar.
Precious metals
Bullion prices were up on Monday as uncertainty rose amongst investors regarding the Fed’s plans to increase US interest rates as well as the possibility that the US-China trade war might reach a conclusion at the G20 summit held later this week. At 21h20, spot gold traded $1 222.62 per ounce.
Oil
Although the oil price rose by almost 3% on Monday, it was curbed by uncertain global economic growth and an increase in oil supplies and production. At 21h10, a barrel of Brent crude cost $61.02.
It was a great start to the week for the local bourse as positive data released by banks, general retailers and industrials led to investor risk-on sentiment. The JSE All Share closed up 1.96% and the Top 40 2.27%.
United States
Retail and technology shares pulled up by Black Friday and Cyber Monday spending lifted US markets on Monday. At 21h40, the Dow was 1.40% up, the S&P 500 1.52% and the Nasdaq 1.86%.
Europe
Monday marked a good day for European markets due to reports that Italy might amend their budget in line with the EU’s requirements; moreover, on Sunday the EU and Britain came to an agreement around Brexit, lifting both currencies. The pan-European STOXX 600 benchmark closed 1.20% in the green.
Hong Kong
Despite losses suffered by Chinese markets, Hong Kong shares still rose on Monday as investors anticipated a more dovish approach to interest rates by the US Federal Reserve Bank (Fed). The Hang Seng closed 1.66% in the green.
Japan
Japanese shares started the week in the green due to Japan winning the bid to host the 2025 World Expo in Osaka. At their end of trade, the Nikkei was up 0.81%.
Rand
The local currency put up quite a fight on Monday thanks to positive market data being released. Although it lost some ground to major world currencies, it still kept its footing under R14 per dollar. At 21h05, the rand traded R13.89 against the dollar.
Precious metals
Bullion prices were up on Monday as uncertainty rose amongst investors regarding the Fed’s plans to increase US interest rates as well as the possibility that the US-China trade war might reach a conclusion at the G20 summit held later this week. At 21h20, spot gold traded $1 222.62 per ounce.
Oil
Although the oil price rose by almost 3% on Monday, it was curbed by uncertain global economic growth and an increase in oil supplies and production. At 21h10, a barrel of Brent crude cost $61.02.
Our daily rant..
So yesterday saw theft taking place at the State Capture Commission of Inquiry. If this is not an indictment of the brazenness of criminals and the general lawlessness currently taking place in South Africa we dont know what is. Here is a massive commission set up to investigate corruption and theft of public funds on a grand scale and it is broadcast across most South African news networks all day long, and someone decides to steal cameras and camera equipment used at this commission. In broad daylight during lunch time. South Africa is becoming a lawless state thick and fast. And as they say, a fish rots from its head. The rot setting in in government has started to affect the general population in South Africa